Banco Popular De Puerto Rico SBA Loan to Homefurnishings Stores Company
Searching for a SBA loan? Here's one business loan that was approved by the SBA.
This up and coming company knew how to go about getting a business bank loan. Based in San Juan, , they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Banco Popular De Puerto Rico, based in San Juan, .
SBA Loan Borrower
COMPANY TYPE: HOMEFURNISHINGS STORES
SAN JUAN, PR 00918
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5719 - Homefurnishings Stores
Loan Approval Date
3/6/2000
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $56,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you are raising money in San Juan PR, you ought to talk with a local San Juan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to San Juan businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $70,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
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